equities

August in Figures

August 31, 2019

The most discussed financial market development of August is actually not depicted in the standard month in figures table below, and that was the inversion of the U.S. yield curve, which has been a pretty reliable leading indicator of a recession beginning 18-24 months later. Between the end of July and August 30th, the U.S. […] More

June and the Second Quarter in Figures

June 28, 2019

Although the major central banks did not change their key short-term interest rates in the second quarter, global disinflation and decelerating economic growth depressed expected inflation and fanned speculation that monetary policies will be eased later in 2019. This in turn put downward pressure on long-term interest rates but incentivized share prices to climb. President […] More

May 2019 in Figures

June 1, 2019

The month of May exemplified the global interdependence national financial markets, and the unifying force was rising risk aversion. Whereas equities had climbed broadly in April, all the ones shown below dropped just about as sharply in May. Likewise, climbing 10-year sovereign debt yields in April were reversed last month, and except in the case […] More

April in Figures

May 1, 2019

The first-quarter rebound in share prices continued in April at pretty much the same pace of climb but with British stocks lagging somewhat. Central bank interest rates were not changed during the month in the U.S., Euroland, Great Britain, Japan, or Switzerland. U.S. President Trump sustained his tweeting campaign, urging the Fed to cut rates […] More

July in Figures

July 31, 2018

Net dollar movement against currencies in other well-developed economies was modest in July, but the U.S. currency extended gains against developing country monies. The rise in long-term U.S. interest rates pulled up other sovereign debt yields, blunting the impact on rate differentials. The Bank of Canada was the only central bank examined for this update […] More

May in Figures

May 31, 2018

The dollar rose over 3% in May against the euro and sterling and by about 1% against the yuan and Canadian dollar but slipped fractionally relative to the yen, loonie and Australian dollar. Ten-year sovereign debt yields had risen in April but declined in May. Share prices rose in the U.K., Canada and United States, […] More

Weaker-than-Expected Chinese Data and a Rise in Oil Prices

May 16, 2016

In April, Chinese M2 money grew 12.8% on year, down from 13.4% in March and a recent high of 14.1% in January.  The 12-month increase in industrial production and retail sales slowed to 6.0% and 10.1% from 6.8% and 10.5% in March.  Fixed asset investment in the first four months of 2016 was 10.5% greater […] More

April 2016 in Figures

April 30, 2016

The dominant market themes in March had been strong oil and equities, dollar and yen weakness, and modest sovereign debt yield increases.  In April, West Texas Intermediate crude oil extended March’s 13.6% advance with a further leap of 19.8%, but yen strength was the big currency market story.  Ten-year sovereign debt yields rose except for […] More

Intensifying Risk Aversion

January 20, 2016

Share prices closed down 4.1% in Hong Kong, 3.7% (or 632 points) in Japan, 3.0% in Singapore, 2.3% in South Korea, 2.0% in Taiwan, 1.7% in India, 1.5% in China, 1.4% in Indonesia and 1.3% in Australia.  Equity declines today in Europe so far amount to 6.8% in Greece, 3.2% in France, 3.1% in Switzerland, […] More

Ugly Day for Stocks

September 22, 2015

Equities in Europe have plunged 3.1% in France, 2.8% in Germany, Italy, Spain and Switzerland and 2.1% in Britain.  U.S. futures point to a debacle here, too.  VW shares continued to implode. Stocks in Asia had been more mixed, with Japan still closed for the second of three straight days in a bridge between Respect […] More

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